Indonesia and Rosneft partner for $24 B Java oil refinery
10/19/2022 11:00:27 AM
Rosneft will parnter with Indonesia to contribute $24 B on a greenfield refinery in East Java province, according to Global Construction Review.
Per the publication, "Kilang Pertamina International (KPI), Pertamina’s refining subsidiary, set up a joint venture with Rosneft in 2016 to develop the project, but the pandemic delayed work and the engineering design was not finalised until August this year. That work was done by Spanish contractor Tecnicas Reunidas.
The scheme is expected to break ground in the third quarter of next year, with completion due in 2027. Pertamina will hold a 55% stake in the asset and Rosneft 45%."
The hope is to secure a contractor for an EPC and to increase capacity by 300,000 bpd to 1.15 MM bpd by 2024.
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